Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Rule of law casualty of AKP-Gulen conflict

The AKP government thinks that by labeling corruption investigations and operations as a “coup” and calling those behind them as “parallel state” that it has found a justifiable way to interfere with the judiciary. Otherwise the government would not have submitted a draft bill to the parliament that totally eliminates the functional independence of the judiciary bureaucracy and promotes the minister of justice, who represents the executive branch, to the status of single decision-maker.

Erdogan presses Kyrgyzstan for action against Gulen group

Turkish President Recep Tayyip Erdogan on Monday urged Kyrgyzstan to take stronger action against the group blamed for a failed 2016 coup, as new President Sooronbai Jeenbekov visited Ankara in a bid to ease tense ties.

Somali students caring for the Soma orphans

The Somali students who were previously brought to Soma, Manisa, for study by Kimse Yok Mu Foundation (KYM) in 2011, recently donated stationery supplies for 105 orphans the mining disaster left behind.

Bosnian court denies Turkish extradition request for alleged Gülen follower

A Bosnian court has dismissed a request for extradition to Turkey of a Turkish national, one among several wanted for alleged links to the Gülen movement, which Ankara blames for a failed coup in Turkey in 2016, Reuters reported.

Escape from Turkey’s parallel reality

As a law-abiding citizen, I knew I had done nothing wrong to be stopped at the border. But in Turkey being a journalist from Zaman media group was enough for me to be considered an “enemy of the state.” And I was the editor-in-chief of Today’s Zaman which had been brutally taken over a few days earlier, earning me a suspended jail sentence for my tweets criticizing then-Prime Minister Ahmet Davutoğlu.

Turkish asylum claims in Greece rise 40-fold in three years

The number of Turks claiming asylum in Greece has increased 40-fold in three years, according to figures released by Athens, as more people face prosecution for their alleged role in a failed coup against President Erdogan.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Turks Fleeing a Crackdown Find Haven in Albania

‘I like the vitality of the participation and the vitality of hospitality within the Hizmet Movement’

Was prime minister able to convince the EU?

Kalashnikov-carrying police raid Gülen-inspired private and prep schools based on ‘reasonable suspicion’

TUSKON denies mass resignations after corruption probe

The tragic story of a Turkish family fleeing to Greece from persecution

Witch hunt against the Gülen followers in Europe

Copyright 2026 Hizmet News